Tarsus Pharmaceuticals, Inc. (TARS) intrinsic value & 10-year financials
Tarsus Pharmaceuticals, Inc. (TARS) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 9 fiscal years revenue grew 67.7% a year to $451.4M, with an average return on invested capital of 33.8%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $68.07
- Market cap
- $2.8B
- Revenue (FY2025)
- $451.4M
- Revenue growth (9-yr CAGR)
- 67.7%
- ROIC (10-yr avg)
- 33.8%
- Free cash flow (FY2025)
- -$22.3M
TARS 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $451.4M | -$66.4M | -$1.59 | -$22.3M | -15.7% | -31.9% |
| FY2024 | $183.0M | -$115.6M | -$3.07 | -$84.6M | -65.9% | -117.7% |
| FY2023 | $17.4M | -$135.9M | -$4.62 | -$119.0M | -820.5% | -198.7% |
| FY2022 | $25.8M | -$62.1M | -$2.52 | -$49.5M | -242.9% | -91.7% |
| FY2021 | $57.0M | -$13.8M | -$0.67 | $3.2M | -21.3% | 432.9% |
| FY2020 | $0 | -$26.8M | -$4.32 | -$21.6M | — | 82.5% |
| FY2019 | — | -$4.7M | — | -$3.8M | — | 6.7% |
| FY2018 | — | -$1.3M | — | — | — | 188.7% |
| FY2017 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Tarsus Pharmaceuticals, Inc. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
Tarsus Pharmaceuticals, Inc. has historically struggled to out-earn its cost of capital, averaging just -18.5% ROIC.
Tarsus Pharmaceuticals, Inc. capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Tarsus Pharmaceuticals, Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-52.81 per share.